Air Lease Corporation (NYSE:AL) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
A number of other research firms have also recently issued reports on AL. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating on shares of Air Lease Corporation in a report on Monday, May 15th. Barclays PLC initiated coverage on Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective for the company. FBR & Co cut their price objective on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, May 15th. Finally, Bank of America Corporation cut Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.25.
Air Lease Corporation (NYSE:AL) opened at 40.01 on Friday. The company has a market capitalization of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $43.39. The firm has a 50-day moving average price of $39.21 and a 200 day moving average price of $38.14.
Air Lease Corporation (NYSE:AL) last posted its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.
In other news, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the sale, the executive vice president now directly owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The disclosure for this sale can be found here. In the last three months, insiders sold 39,854 shares of company stock valued at $1,568,909. 9.76% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Israel Discount Bank of New York acquired a new position in Air Lease Corporation during the first quarter worth approximately $100,000. Fiduciary Trust Co. acquired a new position in Air Lease Corporation during the second quarter worth approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Air Lease Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the last quarter. Bank of Montreal Can raised its position in Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after buying an additional 35 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Air Lease Corporation by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after buying an additional 621 shares during the last quarter. 91.84% of the stock is owned by institutional investors.
Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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